Koderma: The work of filing income tax returns has started. But, there are many people in the country who do not come under the income tax slab. They get less salary, but 10 percent is deducted from their salary every month. This process is called TDS (Tax Deducted at Source). This money goes into the government’s account. If you are a salaried person and your TDS is being deducted every month, then you can get back this amount deducted from your salary. We tell you how…
CA Gunjan Aggarwal tells Local 18 the right way and right time to file TDS. Gunjan told that the salary issuing organization deducts 10% TDS from the employee’s salary and deposits it in the government account. The provision of TDS was implemented by the government to prevent tax evasion. If you are not in the income tax slab, then you will not suffer any loss from the amount deducted as TDS. The TDS amount can be recovered by filing income tax return.
You can file TDS like this
CA Gunjan told that the process of filing income tax return is easy. Which usually many people file themselves. But, the process of filing TDS is a bit difficult. Which no common person knows how to file. For this they have to file TDS through a chartered accountant or tax consultant. Told that the income tax return of every quarter is filed by 31st of the next month.
File TDS after 31st May
CA said that those whose TDS is deducted should not file their income tax return before May 31. If someone files an income tax return during this period, he will not be able to file TDS return. After May 31, income tax return should be filed in June or July. He told that if the return is not filed within the stipulated time, then the Income Tax Department may have to pay a fine of Rs 200 per day.
